Acwa Power signs agreement for 200MW Egypt solar plant

SourceTrade Arabia
SectorOil & Gas
CountryEgypt

Acwa Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 markets, has finalised the project agreements for the 200MW Kom Ombo PV (photo voltaic) plant in Egypt. Construction of the plant is expected to begin in the third quarter of 2021 and upon completion, Kom Ombo PV will cater to the power needs of 130,000 households and offset 336,000 tons of carbon dioxide per year. The signing of the 25-year Power Purchase Agreement (PPA), Network Connection Contract and Usufruct Agreement was conducted via a virtual ceremony held with senior government officials and representatives from the Egyptian Electricity Transmission Company (EETC); The New and Renewable Energy Authority (NREA), and Acwa Power. The agreements were signed by Sabah Mashaly, Chairman of EETC; Dr Mohamed Al-KHayat, Chairman of NREA; Rajit Nanda, Chief Portfolio Management Officer and acting CIO of Acwa Power; and Hassan Amin, Country Development Director- Egypt, Acwa Power. Dr. Mohamed Shaker El Markabi, Egypt’s Minister of...read more...